Written before Twitter existed. Now this is more of a Long Tweet, than a debt reduction article.
Start with a list of your debts and set up the following categories for these debts:
- Short Term: Now ’til a year from now (e.g. credit cards)
- Medium Term : 1 year to 3 years (e.g. Car Loans, Home Improvement loans)
- Long Term: 3+ years (e.g. Mortgage, Student Loans)
So typically your mortgage would be Long Term, a car loan might be mid or longer term, credit card bills SHORT term (if at all).
Block them out and make up a plan on how you will pay off these debts. If you are really “anal” about it all then in your plan put down how you will CELEBRATE the retirement of that debt (without going back into debt, right?!).
With a plan at least you can SEE what you want to do in terms of debt reduction, and can stop worrying as much
Do you know anything about pardons for student loans? I know BC has a program for individuals who are going into the health care system can get their loans reduced by 33% a year…
What about la Belle (esti colis) provence of Quebec..?
We asked for debt cancellation for the poor debtors in Africa and I thank God that the G-8 agreed to cancel our debts. Nigeria in particular was owing over $31 Billion!
Luckily I don’t owe quite that much, but I’d like someone to forgive some of my debts too.